Sellers Market

Found 14 blog entries about Sellers Market.

Is Utah's housing marketing starting to mirror that of San Francisco and the Bay Area?  According to Bankrate.com, Utah has been deemed the "king of its national housing heat index".  Why is Utah such a desirable place to live amidst a world wide pandemic?  Utah boasts the nation's strongest pace of job growth, near rock-bottom unemployment rate, low mortgage rates, and low state and local taxes. When Covid-19 began, and working from home started to look more like a permanent solution to stopping the spread of the virus, many Bay Area residents started searching for a new place to live.  The East Bay Times reported that nearly 115,000 residents moved out of the Bay Area.  The situation was quite opposite for the state of Utah; people flocked here, but for

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High density housing is on the rise throughout Salt Lake County and has been for the past 10 years, but what affect has it had on the housing market, like single-family homes? The University of Utah did a study on this subject and found that the increase in high density housing actually increased the value of single-family homes.  The study concluded that Salt Lake County homes that were located within .5miles of new apartment complexes experienced a 10% annual increase in the average value.  This was in comparison to single-family homes located further away from apartment projects. The research also narrowed the findings into four quadrants and found that the most value occurred in "West" Salt Lake Country, which is comprised of Rose Park, West Valley

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Daybreak has been deemed #5 in the U.S. for Top-Selling Master-Planned Communities of Mid-Year 2020! Year to date new home sales in Daybreak are up 40%! All this despite living through a pandemic. New home sales did have a small hit in March and April as stay-at-home orders we implemented. However as restrictions lifted there was a sudden surge of demand in home sales. 

Communities, like Daybreak, that are able to offer a variety of housing options and different price points continues to be key for growth in these master planned communities. Low inventory coupled with high demand keep builders and development busy expanding these areas. 

 

For more details

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According to USA Today, South Jordan is among the top 50 cities in America to live in.  A contributing factor in South Jordan achieving this status is the rapid growth of Daybreak, attracting 400+ new residents a year.   Once completed, Daybreak will nearly double the size of South Jordan, which currently has just over 69,000 residents.   Other factors include the 4.1% poverty rate and 3.0% unemployment rate.  What does this mean for those looking to buy or sell in the 84009? According to the Salt Lake Board of Realtors' third quarter statistics, South Jordan ranked number 9 out of 10 for most expensive zip codes along the Wasatch Front.  The average price for a home in South Jordan is $441,592, a hike of 8% compared to last year's third quarter stats. 

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This home was built by the same builder and is the same floor plan in Daybreak. Both of these homes were listed in the summer with top real estate agents. However, the result is very different…

HOUSE A

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Sold for $83,000 less Than House B!!! 4 months on Market. Had an extra Fireplace in Master and 2nd Kitchen in Basement. Same style of flooring and paint as House B.

 HOUSE B

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goBE SOLD by Utah Dave! Sold for $83,000 More than the other listing! Sold in the First Weekend on market. 

When choosing a good Realtor to work with make sure you choose one that has experience and PROOF of RESULTS! Call 801-966-4000 to see more proof.

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Daybreak is one of our favorite places to sell homes! In fact many of our Realtors not only specialize in the area but they also live in Daybreak. The Daybreak community was ranked as one of the bestselling master planned communities in the United States for 2015 by real estate advisory firm RCLCO (Robert Charles Lesser & Co., LLC) and John Burns Real Estate Consulting.

In 2015, 415 homes were sold in Daybreak, which resulted in a 23 percent increase over 2014. Dave Robison and Julie Holmes were the Top New Realtor Home Sales in Daybreak for 2015. Since the beginning of January 2016, an amazing 67 homes have been sold. We are off to a robust start this year!

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EXHIBIT A: Listed with a different Brokerage

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The home above was on the market 4 months and NEVER SOLD. Last listed at $339k (Below what we sold the exact home for shown below) This home has 3 tone paint, real hardwood floors, updated colors, and modern white kitchen with granite and backsplash. It's also partly fenced.

 

EXHIBIT B: Listed with Utah Dave @ goBE Realty

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Meanwhile, this home sold for $340k in 3 weeks.   It only has 2 tone paint and brown colors. Formica counters throughout kitchen and upstairs instead of granite like the home above.​ Laminate hardwood not real hardwood floors. Also, no fence on this home as opposed to the partially fenced home that dind't sell. The only other difference between this home and the one above

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Daybreak Team

A huge shout out to our goBE Realty Sales Team. Yesterday at the exclusive Daybreak Awards Ceremony goBE Realty was awarded the Top Real Estate Office Sales in Daybreak for 2015. That's not all though; Utah Dave was awarded the Top Sales Agent for New Home Sales in Daybreak for 2015! We also sold a total of 65 homes in Daybreak in 2015 alone. In addition the goBE team sold a total of 170 homes from Davis, Salt Lake, and Utah Counties. Give a "like" to help us congratulate this amazing team. — with David Marrott, Ryan Aycock, Josh Mills, Barbara Neilson Mills, Dave Robison, Julie Holmes,Tammy Burton Casper and Durven Wilson.

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Same Builder... Same House... Same Area... Same Time on Market.... VERY DIFFERENT RESULTS

 

THEIRS: (LISTED WITH A DIFFERENT COMPANY: good experienced agent and brokerage)

House 2On the market for almost 2 years!

Ended with a Lease Option for thousands less than ours. 

Fully finished basement with wet bar

Larger yard/ lot

More upgrades in Master Bath

 

 

OURS: LISTED with UTAHDAVE of goBE Realty

Offers within a few days!House 1

Sold for $345k

Only a partially finished basement

Smaller lot than comparable home above

 

 

Utah is a non-disclosure state on sales price. To gain sold data on listings that aren't ours call 801-966-4000.

As you can see in the apple to apple comparison that you see above, the real estate

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FHA loan limits have increased! The FHA loan limits went from $304,500 to $312,800 in Salt Lake County. What dose this mean to buyers and sellers? If you buy in Salt Lake County with an FHA loan purchase price (typically putting down 3.5%) this makes your ​purchase power increase from last year approximately $8,000.

Something for Sellers to keep in mind: if you list your home for $325,000-$440,000 you are only making your home available to buyers that are able to put 5% down (this price range is above the 3.5% down FHA limit). However;  if you list at $325,000 you then add a plethora of buyers to your purchasing pool by including 5% down buyers AND 3.5% down buyers. This makes your home an option for many more buyers and your ability to sell that

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